TAX

Good and Service Tax (GST)

  • Since July 1, 2017 India has moved to Goods and Service Tax (GST).
  • GST is a single tax regime and has replaced various indirect taxes such as Central Excise Duty, Service Tax, CST, VAT, Octroi, Entry Tax, Cess, etc
  • GST is levied at all stages from manufacturer up to the retailer who sells the goods for final consumption.
  • Customers are the ultimate bearer of the taxes and there is no cascading of tax as tax payable at each stage is available for set-off.
  • All business invoices will have GSTIN number of customer instead of VAT/CST number of the buying state. This will facilitate customer in claiming the tax credit.
  • Business Customers are required to submit Goods and Services tax registration number (GSTIN) before genearting Invoice. Invoices cannot be modified
  • The invoices without customer GSTIN will be treated and filed as non registered customer, hence cannot claim tax credit.

Input Tax Credit (ITC) (for companies / business customers )

Under the GST regime, Input Tax Credit (ITC) can only be availed on providing GST compliant invoices and accurately reporting the transaction details on the GST network.

To facilitate the same, it is critical that you update your GSTIN with us. The same will get reflected in your account in GST network (GSTR-2/2A). In case your GSTIN is not updated with us, you will not be able to avail the input tax credit of the GST paid to us.

Important Note: Once the invoice is created it cannot be tampered to update GSTIN, please provide the GSTIN before creating invoice on the time of making order.

If there are any questions regarding this policy you may contact us, see contact us page

FAQ

How to Add GSTIN to my account ?

GST is a destination based tax, so add your GSTIN to each address, both billing and shipping addresses.

  1. Goto MY ACCOUNT > View All Addresses
  2. Modify the address
  3. Fill the field Company with GST Number, with company name and GST number in bracket
  4. Then Save,
  5. Do steps 2-5 for all your address

Where to find the GST Tax Percantage ?

You can find the GST of a product based on its HS Code here cbec-gst.gov.in

Can you include my GSTIN to exiting invoice ?

NO, Once the invoice is created it cannot be tampered to update GSTIN, please provide the GSTIN before creating invoice on the time of making order.

What is HSN Code ?

HSN code or Harmonized System Nomenclature code number is an internationally adopted commodity description and coding system developed by the World Customs Organization (WCO). HSN code is used by more than 200 countries as a basis for their customs tariffs. Currently, over 98% of the merchandise in international trade is classified under HSN code With the HSN code acting as a universal classification for goods, the Indian Government has decided to adopt the use of HSN code for classification of goods under GST and levy of GST.

HSN Code 2017 Edition is the currently valid version applied in international trade transactions. Prior to the implementation of the HSN Code- 2017 Edition, HSN Code - 2012 Edition was applied in all international trade transactions. The HSN Codes are first classified into sections, chapters, contains the six-digit codes of the Harmonized System. To look up a HSN code you can use the HSN code finder or drill-down from Section to Chapter to the HSN Code.